Quoin Pharmaceuticals (NASDAQ:QNRX) Posts Earnings Results, Beats Expectations By $0.55 EPS

Quoin Pharmaceuticals (NASDAQ:QNRX) issued its quarterly earnings results on Thursday. The company reported ($0.97) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.52) by $0.55, Zacks reports.

Quoin Pharmaceuticals Price Performance

QNRX traded down $0.12 during midday trading on Friday, hitting $3.73. 25,555 shares of the company’s stock traded hands, compared to its average volume of 32,247. The stock’s fifty day simple moving average is $5.29 and its 200-day simple moving average is $5.93. Quoin Pharmaceuticals has a one year low of $3.25 and a one year high of $23.50.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Lake Street Capital started coverage on Quoin Pharmaceuticals in a report on Wednesday, September 23rd. They issued a “buy” rating and a $20.00 price objective for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Friday, October 16th. BTIG Research started coverage on shares of Quoin Pharmaceuticals in a research note on Monday, October 12th. They set a “buy” rating and a $14.00 price objective on the stock. Wall Street Zen raised Quoin Pharmaceuticals to a “sell” rating in a report on Saturday, October 17th. Finally, Canaccord Genuity Group initiated coverage on Quoin Pharmaceuticals in a research note on Monday, October 19th. They issued a “buy” rating and a $18.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.33.

Insider Buying and Selling at Quoin Pharmaceuticals

In other news, COO Denise P. Carter acquired 20,490 shares of Quoin Pharmaceuticals stock in a transaction dated Monday, August 31st. The stock was acquired at an average cost of $4.88 per share, for a total transaction of $99,991.20. Following the completion of the purchase, the chief operating officer owned 37,709 shares of the company’s stock, valued at $184,019.92. This represents a 119.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Anthony Culverwell bought 6,146 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was purchased at an average price of $4.88 per share, for a total transaction of $29,992.48. Following the acquisition, the director directly owned 40,364 shares in the company, valued at approximately $196,976.32. This trade represents a 17.96% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 57,370 shares of company stock valued at $279,966. Corporate insiders own 7.54% of the company’s stock.

About Quoin Pharmaceuticals

Quoin Pharmaceuticals, Ltd. is a clinical-stage specialty pharmaceutical company focused on developing treatments for rare and orphan diseases. The company is primarily pursuing therapies for conditions with significant unmet medical needs, including rare genetic disorders affecting the skin.

Quoin’s lead program is QRX003, a topical lotion being developed for Netherton syndrome, a rare inherited skin disorder associated with impaired skin-barrier function. The company is also developing QRX004, a topical product candidate intended for recessive dystrophic epidermolysis bullosa, a severe genetic skin disease.